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The Perspective of Islamic Economic Philosophy, Management, and Investment Decisions in Critique of Conventional Systems Arif Surahman; Muhardi Muhardi; Jamaludin Jamaludin; Kartono Kartono; Achmad Agus Yasin Fadli
International Journal of Science, Technology & Management Vol. 7 No. 2 (2026): March 2026
Publisher : Publisher Cv. Inara Colaboration with www.stie-sampit.ac.id

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46729/ijstm.v7i2.1389

Abstract

This article examines the critique of conventional economic and strategic management paradigms and extends the discussion by integrating Islamic investment decision making. The study is conducted through library research by drawing on core books in Islamic finance and international journal articles on governance, investor behavior, Shariah markets, and portfolio decision making. The findings indicate that conventional systems are largely grounded in profit maximization, instrumental rationality, and value-neutral assumptions, making them prone to inequality, risk shifting, speculation, and the neglect of moral responsibility in decision processes. In contrast, the Islamic perspective regards economic, strategic, and investment activities as a trust that must be managed within the framework of justice, public welfare, blessing, and maqasid al-shariah. Ontologically, human beings are viewed as caliphs; epistemologically, decisions are formed through revelation, reason, and empirical experience; and axiologically, investment and organizational management must conform to trustworthiness, transparency, risk sharing, prudence, and moral-spiritual accountability. This integration offers a more holistic paradigm for organizational management and investment decision making, since it evaluates not only financial outcomes but also process quality, contractual justice, social impact, and ethical accountability.
The Effect of Earnings Per Share (EPS), Earnings Before Interest Taxes Depreciation and Amortization (EBITDA) and Debt to Assets Ratio (DAR) on Stock Prices of PT Sarana Menara Nusantara Tbk for the Period 2010–2024 Gea, Nita Cahyani; Fadli, Achmad Agus Yasin
Journal of Management, Economic, and Accounting Vol. 5 No. 2 (2026): April
Publisher : Universitas Dehasen Bengkulu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37676/jmea.v5i2.1345

Abstract

The purpose of this research is to examine the effect of Earnings Per Share (EPS), Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA), and Debt to Assets Ratio (DAR) on stock prices of PT Sarana Menara Nusantara Tbk, located in Kudus, Central Java. This study employs a quantitative research approach. The sampling technique used is saturated sampling, consisting of financial statements of the company over a period of fifteen years, from 2010 to 2024. The data analysis using linear regression analysis. The results indicate that Earnings Per Share (EPS) has a significant effect on stock prices, with a significance value of 0,037 < 0.05 and a t-value of 2,370 > t-table value of 2.201. Meanwhile, Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) has no significant effect on stock prices, with a significance value of 0,341 > 0.05 and a t-value of -0,995 < 2.201. Likewise, Debt to Assets Ratio (DAR) has significant effect on stock prices, with a significance value of 0,049 > 0.05 and a t-value of 2,638 < 2.201. However, the variables Earnings Per Share, Earnings Before Interest Taxes Depreciation and Amortization , and Debt to Assets Ratio simultaneously have a significant effect on stock prices, as evidenced by a significance value of 0.044 < 0.05 and a calculated F-value of 3,776> F-table value of 3.59.
Pengaruh Current Ratio dan Inventory Turnover terhadap Return On Asset pada PT Kimia Farma Tbk Suraya, Amthy; Astuti, Eni Puji; Yasin Fadli, Achmad Agus
Ummul Qura Jurnal Institut Pesantren Sunan Drajat (INSUD) Lamongan Vol. 10 No. 1 (2026): Jurnal Ilmiah Institut Pesantren Sunan Drajat (INSUD) Lamongan
Publisher : Institut Pesantren Sunan Drajat Lamongan, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55352/uq.v10i1.2882

Abstract

The purpose of this research is to analyze the Effect of Current Ratio and Inventory Turnover on Return On Assets of PT Kimia Farma Tbk. The sample used in this study is purposive sampling. The method used in this study is a descriptive method with a quantitative approach. The data used are secondary data in the form of financial statements of PT Kimia Farma Tbk for the period 2018-2024. Data analysis used is the Classical Assumption Test, Regression Analysis, Determination Coefficient, T Test and F Test. The results of the study indicate that partially there is a significant effect of Current Ratio on Return On Assets with a Tcount value of 5.763> Ttable 2.776 with a significance value of 0.004<0.05. And Inventory Turnover partially has no effect on Return On Assets where the Tcount value is -0.841<Ttable 2.776 with a significance value of 0.448>0.05. Simultaneously, Current Ratio and Inventory Turnover have a significant effect on Return on Asset F count 49.646>F table 5.79 with a significance value of 0.001<0.05